Energen

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Energen Corporation
TypePublic (NYSEEGN)
IndustryUtilities
Founded1979
HeadquartersBirmingham, Alabama, United States
Key peopleJames T. McManus II, Chief Executive Officer
Charles W. Porter, Jr., Chief Financial Officer
ProductsNatural Gas Provider, Exploration
RevenueIncrease$1.56 billion USD (2008)
Employees1,530 (2008)
Websitehttp://www.energen.com/
 
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Energen Corporation
TypePublic (NYSEEGN)
IndustryUtilities
Founded1979
HeadquartersBirmingham, Alabama, United States
Key peopleJames T. McManus II, Chief Executive Officer
Charles W. Porter, Jr., Chief Financial Officer
ProductsNatural Gas Provider, Exploration
RevenueIncrease$1.56 billion USD (2008)
Employees1,530 (2008)
Websitehttp://www.energen.com/

Energen Corporation, headquartered in Birmingham, Alabama, is a diversified energy company that operates two divisions; an oil and gas exploration company and a natural gas utility company. Energen is listed on the New York Stock Exchange with a ticker symbol "EGN" and has a market capitalization of more than $6 billion.

History[edit]

Energen Corporation was originally founded in 1953 as Alabama Gas Corporation, after its parent company, Birmingham, Alabama-based Southern Natural Gas, which would later become Sonat Inc., spun off the company as part of an antitrust agreement. In 1985, the company reformed as Energen Corporation to focus on both its natural gas utility division, Alagasco, and its oil and gas exploration division, Taurus Exploration, which has now become Energen Resources. Alagasco has funded the company's dividend, while the company's Energen Resources division has funded its oil and natural gas acquisitions and development division. On January 30, 2003, Energen Corporation broadcast a conference call live over the internet.[1]

On April 8, 2002, Energen Resources, the oil and gas acquisition and exploitation subsidiary of Energen Corporation, completed its planned acquisition of Permian Basin oil properties.[2]

On August 2, 2004, Energen Resources closed on its previously announced purchase of San Juan Basin coalbed methane properties from a private company, for an adjusted purchase price of $263 million.[3]

Divisions[edit]

Alabama Gas Corporation[edit]

Alabama Gas Corporation, Alagasco, makes up the company's natural gas utility division. The company was originally a part of Southern Natural Gas, which later became Sonat Inc.. The company was spun off in 1953 and in 1985 became Energen Corporation, the holding company for Alagasco and Taurus Exploration. The company is based in Birmingham, Alabama and serves the large metropolitan areas of Anniston, Birmingham, Gadsden, Montgomery, Auburn/Opelika, Selma and Tuscaloosa.

Energen Resources Corporation[edit]

Energen Resources Corporation, originally Taurus Exploration, makes up the company's oil and gas exploration business. The company was founded in 1985 and became a holding company of Energen. The company is based in Birmingham, Alabama.

External links[edit]

Notes